Vestand Inc
vestand.comWhat Do They Do?
Runs Japanese restaurants serving ramen, sushi and other Japanese dishes to diners.
10-K for FY2024, filed Mar 27, 2025
How Do They Make Money?
Customers pay for food and drinks sold at company-owned restaurants; each sale is counted when they receive what they ordered.
10-K for FY2024, filed Mar 27, 2025The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers. The Company’s net revenue primarily…View ↗
$12.8M
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10-K for FY2024, filed Mar 27, 2025
$12.8M ↗
Who Are Their Customers?
Diners buy food and drinks at company-owned restaurants or order online through third-party services such as Uber Eats, Door Dash and Grubhub.
10-K for FY2024, filed Mar 27, 2025Revenue. Revenue represents sales of food and beverages in restaurants. Restaurant sales in a given period are directly impacted by the…View ↗
Delivery and service fees. Our customers may order online through third party service providers such as Uber Eats, Door Dash, Grubhub and…View ↗
The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers. The Company’s net revenue primarily…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $2.7M in FY2024, but brought in more cash than it spent: $113.7K of free cash flow.
10-K for FY2024, filed Mar 27, 2025
−$2.6MView ↗
10-K for FY2024, filed Mar 27, 2025
−$2.7MView ↗
10-K for FY2024, filed Mar 27, 2025
$113.7KView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2025, filed Aug 20, 2025
−$1.2MView ↗
- ▲ +11% (Loss)
- vs −$1.1M in Q2 FY2024
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Aug 13, 2026
Sold its Vestand Korea shares with a repurchase option
The company may repurchase all the shares under the agreement.
Sources
8-K, filed Aug 13, 2026
Vestand Inc. (the “Company”) owned 200 shares of common stock of Vestand Korea Co., Ltd. (“Vestand Korea”). On July 30, 2026, the Company…View ↗
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Jul 28, 2026
Nasdaq delisted the company's Class A shares
The shares began trading on the OTC Pink Limited Market under VSTD.
Sources
8-K, filed Jul 28, 2026
On July 23, 2026, Vestand Inc. (the “Company”), received a delist decision letter (the “Decision”) from The Nasdaq Stock Market LLC…View ↗
Who Do They Compete With?
Competes with Jinya Ramen Bar
10-K for FY2024, filed Mar 27, 2025We face significant competition from a variety of locally owned restaurants regional, and national chain restaurants offering both Asian…View ↗
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